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Business Management

Business Management Key Terms

AB
ManagementThe direct control of a business or enterprise.
ManagerAn employee whose overall job is to make sure that the organization meets its goals and obligations.
Top-level (Upper) ManagementPeople who are responsible for setting goals and planning for the future. They have titles like president, vice president, chief executive officer (CEO). Top-level managers usually consist of a small group of people or even one person.
Middle-level ManagementOne who carries out the decisions of top-level management. They include plant managers, regional managers, and department heads. They are responsible for planning and controlling an operation.
First-line (Supervisory) ManagementSometimes referred to as supervisory managers. They may also be called team leaders, coaches, supervisors, office managers, crew leaders, or unit coordinators. A manager who is responsible for directing the day-to-day activities of low-level (all employees below First-line manager status) and operational employees. Sometimes these managers are referred to as operational managers.
Planning/StaffingSetting company goals. Top-level managers must decide what must be done, who will do it, how will the work be grouped, and hiring staff.
ControllingKeeping the company on track and making sure all goals are met.
LeadingIncludes giving orders. Good leaders must create a vision for the company, set standards, communicate with employees, provide guidance, and resolve conflict among workers.
OrganizingDeciding how you will get the work done to accomplish the goals.
Operations ManagementJeremy is the sole proprietor of an architectural design business and must handle all the daily business functions. This is an example of which entrepreneurial function?
LeadingHelping a new employee learn ways to manage work time effectively
ManagingBeing responsible for the operation and control of all the computers in your office building
Human resources managerposting job vacancies, screening resumes, and setting interview appointments
OrganizingJanice coordinates a weekly meeting for all the managers in her company so each manager
PlanningDetermining human resources needs in the company
ControllingReviewing monthly sales report to see if the department has achieved its goals
OrganizingAssigning various job tasks to managers to accomplish goals is
Hotel managerManaging reservations, banquets, and housekeeping are
LeadingHelping a new employee learn ways to manage work time effectively is



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